Sunday, 14 April 2024
Tuesday, 26 Sep 2023 12:00 am

MENA Knee Cartilage Repair Service Market is expected reach a US$ 344.50 million by 2030

MENA Knee Cartilage Repair Service Market is growing at a CAGR of 5.5% to reach US$ 344.50 million by 2030 from US$ 222.56 million in 2022 by Procedure Type, and End User.

By The Insight Partners

Arthroscopic Chondroplasty Segment, by Procedure Type, to Dominate MENA Knee Cartilage Repair Service Market During 2022–2030

According to our new research study on "MENA Knee Cartilage Repair Service Market Size and Forecast (2020–2030), Regional Share, Trends, and Growth Opportunity Analysis," the MENA knee cartilage repair service market size is expected to grow from US$ 222.56 million in 2022 and to reach a value of US$ 344.50 million by 2030; it is anticipated to record a CAGR of 5.5% from 2022 to 2030. Key factors driving the MENA knee cartilage repair service market growth includes rise in prevalence of osteoarthritis and developments in orthopedic field and stem cell therapy in orthopedics. However, shortage of health workers in Africa is hindering the growth of the MENA knee cartilage repair service market during 2022-2030.

Use of stem cell therapy in orthopedics has fueled the MENA knee cartilage repair service market growth. Stem cell therapy has gained significant attention in the orthopedic sector. It has recently marked its presence in the orthopedic field. The use of stem cell therapy can help reduce pain and promote knee cartilage regeneration and repair. Various research has been published stating the potential of stem cells as regenerative medicine in knee cartilage regeneration. Research has shown that stem cell therapy has the ability to heal cartilage tissue by controlling the damage and preventing tissue death.

MENA Knee Cartilage Repair Service Market, by Country, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00030077

Source: The Insight Partners Analysis

Companies have been introducing stem cell injections that can treat knee osteoarthritis. For instance, RegenOrthoSport launched Regenexx in the market. It is a new kind of needle-based injection to treat knee arthritis that enables the regeneration of healthy cartilage tissue in the damaged part of the knee. The injection contains autologous stem cells that are derived from the patient’s bone marrow that are used to treat damaged part of the knee and protects the healthy tissue surrounding it. Thus, stem cell therapy has shown promising results, and it has the potential to replace the traditional or conservative treatments of chronic knee conditions, such as medications, physical therapy, and surgical intervention. The stem cells’ capacity for regenerating has paved the way for novel regenerative therapies in the field of orthopedics.

Countries in the Middle East and North Africa are aggressively adopting advanced medical therapies to treat chronic conditions. The presence of such products in the market is driving the market’s growth.

Arthrex Inc, DePuy Synthes Inc, Zimmer Biomet Holdings Inc, Medacta Group SA, Anika Therapeutics Inc, Conmed Corp, Stryker Corp, CartiHeal Inc, Smith & Nephew Plc, and B. Braun SE are among the key companies operating in the MENA knee cartilage repair service market. The companies have been implementing various strategies that contribute to their growth and lead to various changes in the market. The companies have utilized both organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as product launches, partnerships, and collaborations).

For instance, in March 2022, US Food and Drug Administration had granted Premarket Approval (PMA) for its Agili-C implant of CartiHeal Ltd. CartiHeal Ltd is a developer of implants for the treatment of cartilage and osteochondral defects in arthritic and non-arthritic knee joints. Similarly, In December 2021, DePuy Synthes Acquired OrthoSpin, Ltd. OrthoSpin developed and manufactures a first-of-its kind technology – an automated strut system – which is used in conjunction with DePuy Synthes MAXFRAME Multi-Axial Correction System, an external ring fixation system. This acquisition is a clear example of Johnson & Johnson’s continued commitment to advancing innovation in the medtech space.

The report segments the MENA knee cartilage repair service market as follows:

The MENA knee cartilage repair service market, based on procedure type, is segmented into arthroscopic chondroplasty, microfracture, cell-based cartilage resurfacing, osteochondral grafts transplantation, and others. The arthroscopic chondroplasty segment held the largest share of the market in 2022. The benefits of chondroplasty include improved joint function, reduced joint pain, slowed cartilage degeneration, and immediate relief. In general, recovery from an arthroscopic procedure is faster and less painful compared to recovery from traditional surgery. However, the cell-based cartilage resurfacing segment is anticipated to register the highest CAGR during 2022–2030. Based on end user, the MENA knee cartilage repair service market is segmented into hospitals, ambulatory surgical centers, and orthopedic clinics. The hospitals segment held the largest share of the market in 2022 and the same segment is anticipated to register the highest CAGR in the market during 2022–2030.

Based on geography, the MENA knee cartilage repair service market is segmented into Saudi Arabia, UAE, Egypt, Israel, and rest of MENA.

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy